Tiger Watch, the monthly car insurance price monitor published by Tiger.co.uk, has released its figures for March 2011. The monitor, based on the analysis of hundreds of car insurance quotes each month, estimated that March 2011 prices were a massive 36.3% higher than prices a year ago. Year-on-year inflation over the first three months of 2011 was 31.3%, continuing the hyper-inflationary trend that has been evident since April last year.
However there was some better news for Britain’s hard-pressed motorists as the January to March 2011 period saw insurance pricing broadly on par with the rates seen in the previous quarter.
A spokesperson for Tiger.co.uk cautioned against this being misinterpreted by UK drivers: “Although we have seen more stability in car insurance policy pricing over the last few months we are still forecasting that the average premium across 2011 will show a 20% increase compared with the average for 2010.
Like all averages though, this masks the reality to some degree in that those drivers renewing their insurance at the back end of this year will probably see lower levels of inflation – about 13% in the third quarter and 6% in the October to December period. Many of these drivers will of course have seen their policies increase by around 35% in 2010.
For all drivers we would recommend shopping around for quotes when looking for car insurance – using a comparison site like Tiger.co.uk is a great place to start!”
About Tiger Watch:
Tiger Watch examines hundreds of car insurance policy prices every month across a range of consistent driver profiles and vehicles and calculates the average inflation across these on a month-by-month and year-by-year basis.